Brent Crude Trades Near Two-Year High on Mideast Supply Concern
This article is for subscribers only.
Oil traded near the highest in more than two years in London as civil unrest spread in the Middle East, renewing concern crude shipments will be disrupted.
Brent futures were little changed after closing yesterday at the highest level since September 2008 as pro-democracy demonstrations stretched into a third day in Bahrain, while protesters clashed with police in Yemen and Libya, the eighth-biggest oil producer in the Organization of Petroleum Exporting Countries. Prices in the U.S. slumped after inventories at the country’s storage hub swelled in Cushing, Oklahoma.